2022
ACCESSbank.com
TABLE OF CONTENTS
Messages From the Chairman & CEO and President............ 2-3 Commercial Banking.................................................................. 4-5 Commercial Real Estate............................................................. 6-7 Access Payment Processing.................................................... 8-9 Financial Statement................................................................. 10-11 Executive Banking................................................................... 12-13 Retail Banking................................................................................. 14 Mortgage Banking......................................................................... 15 Giving Back............................................................................... 16-17 Our Culture................................................................................ 18-19 Our Leadership........................................................................ 20-21
ACCESSbank 2022 ANNUAL REPORT | 1
CEO’S MESSAGE
When we first opened our doors in 2007, we had a simple vision – to be Omaha’s premier community-focused bank. As I reflect on all that we’ve accomplished, I think about the many milestones which were stepping stones to the company we’ve become. From reaching $100 million in assets, to acquiring Bank of Nebraska, to where we are today, I’m incredibly proud that we’ve remained committed to our original vision. This year, for the tenth year running, we have been voted the “Best Bank” by B2B Magazine and, to date, have received five Excellence Awards from the Omaha Chamber of Commerce. We’ve provided more than $1.12 million in financial support to over 353 local organizations and non-profits. In addition to financial support, our employees are encouraged to participate in various annual projects like Pinwheels for Project Harmony, donate blood at our semi-annual blood drive, and volunteer as board members for various non-profits across the community. Through it all, the support of our loyal shareholders, clients, and employees has helped us bring our original vision to life and achieve so much more than we ever thought possible. And, while we’re proud of how we’ve grown since our early years, we’re even more excited about where we’re going. Our biggest goal in the future is to continue being “Here for a Reason” – to support the dreams of our clients and our community.
Pat Corrigan Chairman & CEO
2 | ACCESSbank 2022 ANNUAL REPORT
PRESIDENT’S MESSAGE
2022 was a year of continued success for the bank and our employees. Our Commercial Banking team successfully wrapped up their efforts to aid our clients in the forgiveness of their Paycheck Protection Program (PPP) loans, while adding new positions and adopting a new 3:1 service model. Our Executive Banking department continued to welcome new clients, providing concierge-level services to our shareholders, physicians, and the executives in our community. Our Retail Banking team stayed busy by adopting new technology, fostering our commitment to providing the high- level service our clients have come to expect. Operationally, we created new roles in the areas of fraud prevention and audit to ensure our clients and shareholders’ interests are protected from external threats and regulatory risk. Our Finance team executed a short-term investment strategy and implemented an enhanced financial and budgeting system, which will aid in our planning for the future. Of course, as we continue to grow and evolve, one thing will remain the same – our commitment to high-level service and making a positive impact for those we serve – whether inside our doors or outside of them.
Tom Corrigan President
ACCESSbank 2022 ANNUAL REPORT | 3
4 | ACCESSbank 2022 ANNUAL REPORT
Our Commercial team is dedicated to providing an exceptional experience to our clients. To deliver on our promise, our full-service Lending, Portfolio Management, and Treasury Management teams partner together to deliver customized solutions and act as trusted advisors for our clients. This year, we finalized our efforts in the forgiveness of more than $120 million in Paycheck Protection Program (PPP) loans, allowing clients to reinvest back into their business and employees. We continue to commit to high-level service by adding new support and portfolio positions to elevate from a 1:1 banker-client ratio to a 3:1 service model. COMMERCIAL BANKING
“It has been an absolute pleasure collaborating with the distinguished team at ACCESSbank. Their unparalleled commitment to prompt, tailored service has made them an invaluable asset to both myself and my business. I have consistently found solace in their unwavering support and dedication, making them an irreplaceable ally in my entrepreneurial endeavors. Their exceptional professionalism and remarkable attention to detail have undoubtedly raised the bar for excellence in the financial industry. I look forward to a continued partnership with ACCESSbank and recommend their services to any individual or organization in search of top-tier financial solutions.”
Implemented a new commercial lending platform to streamline the entire process, from prospecting to post-close portfolio management
Ended the year exceeding production goals for commercial loans by more than 30%
Jamie Gutierrez, CEO, Midwest Maintenance
ACCESSbank 2022 ANNUAL REPORT | 5
COMMERCIAL REAL ESTATE Our Commercial Real Estate team is one of the best in the market, providing a wealth of knowledge with an innovative approach to delivering personalized solutions for every client. In 2022, we continued to grow our portfolio and expand our reach across Omaha. From financing unique projects like the Nebraska MultiSport Complex, to urban and modern rowhouses in Midtown, our “Financing Provided by ACCESSBank” signs are seen throughout the Metro. Whether it’s a new development, a rehabilitation project, or Tax Incremental Financing (TIF), our Commercial Real Estate team is adept at it all.
Ended the year exceeding production goals by more than 35%
“We have been very happy working with ACCESSbank. When we started Showcase Homes, our lender was a great advocate for us in helping us get started in the home-building business and guiding us with the financing of our new construction homes. We appreciate our relationship and look forward to continuing doing business with both the bank and our lender in the future. Thank you!”
Clinton Boyd, Showcase Homes
6 | ACCESSbank 2022 ANNUAL REPORT
ACCESSbank 2022 ANNUAL REPORT | 7
ACCESS PAYMENT PROCESSING Our Merchant Services team provides credit card processing services and equipment to businesses and financial institutions in all 50 states. We serve hundreds of clients in virtually every industry or profession. By offering competitive pricing and advanced technology solutions, ACCESS Payment Processing (APP) is one of the best in the market. To support client needs, our team implemented a compliant Dual Pricing Program where merchants can retain more profits for their business. As a result, our business clients are able to improve their bottom line, saving significant dollars in processing fees. Additionally, we added an omni-channel solution, offering a streamlined process to view customer interactions.
“We’ve been lucky enough to work with the APP team at ACCESSbank for our merchant processing for many years. Keeping this service local is incredibly beneficial and important to our offices. If problems arise, they’re addressed locally, not by calling an 800 number. They know your business, know you by name and really partner in watching your bottom line. We know there are many choices in merchant processing. We can’t imagine using anyone other than ACCESSbank.”
Jennifer A., Practice Administrator, The Dentists
8 | ACCESSbank 2022 ANNUAL REPORT
ACCESSbank 2022 ANNUAL REPORT | 9
ACCESSBANK’S FINANCIAL STATEMENTS
BALANCE SHEET (AMOUNTS IN MILLIONS)
ASSETS
2022
2021
2020
Cash and Due From Banks
$ 41.7 $ 236.0 $ 139.8
Investment Securities
231.5
90.6
51.3
Total Loans and Leases
635.1
559.7
575.7
Less: Allowance for Loan Losses
(9.0)
(9.7)
(9.1)
Net Loans and Leases
626.1
550.0
566.6
Other Assets
46.4
39.1
32.0
Total Assets
$ 945.7
$ 915.7
$ 789.7
LIABILITIES & EQUITY
2022
2021
2020
Deposits
$ 844.5
$ 808.5
$ 673.5
Borrowed Funds
-
10.0
26.3
Other Liabilities
9.5
6.6
6.7
Total Liabilities
854.0
825.1
706.5
Total Shareholders’ Equity
91.7
90.6
83.2
Total Liabilities and Shareholders’ Equity
$ 945.7
$ 915.7
$ 789.7
10 | ACCESSbank 2022 ANNUAL REPORT
INCOME STATEMENT (AMOUNTS IN MILLIONS)
2022
2021
2020
Interest and Dividend Income
$ 32.4
$ 25.0
$ 25.1
Interest Expense
(2.7)
(1.6)
(3.3)
Net Interest Income
29.7
23.4
21.8
Provision for Loan Losses
(0.7)
(0.7)
(1.8)
Non-Interest Income
8.4
13.6
10.6
Non-Interest Expense
(23.1)
(22.8)
(20.7)
Income Before Taxes
14.3
13.5
9.9
Provision for Income Taxes
(3.1)
(2.9)
(2.0)
Net Income
$ 11.2
$ 10.6
$ 7.9
ACCESSBANK HISTORICAL RESULTS (AMOUNTS IN MILLIONS)
$635.12
$844.54
$14.34
12.47%
2022
2022
2022
2022
$559.67
$808.53
$13.53
11.99%
2021
2021
2021
2021
$575.72
$673.47
$9.91
9.77%
2020
2020
2020
2020
GROSS LOANS
TOTAL DEPOSITS
PRE-TAX EARNINGS
RETURN ON AVG. EQUITY (ROAE)
ACCESSbank 2022 ANNUAL REPORT | 11
12 | ACCESSbank 2022 ANNUAL REPORT
EXECUTIVE BANKING
Executive Banking is built around the lives of busy professionals and executives in our community. Our clients receive the highest level of service, customized products, and exclusive benefits. We invest in relationships by understanding preferences and objectives to create tailored solutions for our clients. In response to the real estate market and rising rate environment, we introduced new mortgage products tailored to the needs of executives, professionals, and physicians. We continue to expand relationships with both new and existing clients by hosting unique events designed to connect with our centers of influence.
“ACCESSbank has taken care of me over and over. My first experience with them was top notch, and they have certainly won my trust. They continue to impress me years after our first dealings. They focus on building real relationships and have taken my banking experience to a whole new level.”
Dr. Nathan Bennion
Exceeded production goals by more than 25%
Introduced new mortgage products for executives, professionals, and physicians
ACCESSbank 2022 ANNUAL REPORT | 13
RETAIL
Our Retail team serves as the front line for all client banking needs. From assisting businesses with cash deposits, to opening new deposit, savings, or loan accounts for families in our community, they are the first to offer the warm service our clients expect. Over the last two years, we have invested in and implemented over 24 customer enhancements, resulting in better client experiences for digital, online, and fraud prevention solutions. In 2022, we partnered with a local, established market research firm to utilize Artificial Intelligence (AI) to provide insight into our in-person client interactions. Similar to monitoring quality assurance over the phone, this new technology analyzes and monitors in-person interactions, allowing us to better understand and identify key trends in our service levels.
“I wanted to say thank you to all of you I have had interactions with. All of you are cheerful and have outstanding customer service skills. How refreshing to see the younger generation know the importance of customer relations. Keep up the great work!”
– Suzette G.
14 | ACCESSbank 2022 ANNUAL REPORT
MORTGAGE
From pre-qualifying and purchasing, to refinancing, remodeling, or new construction, the ACCESSbank Mortgage team is dedicated to finding the best loan for your needs. Our experts work directly with agents, brokers, and builders to make the process seamless throughout the entire journey.
Poising itself for the future, the Mortgage team doubled its size by adding staff. We redesigned our team structure to transition from a 1:1 lender-client ratio to a 2:1 service model.
400+ families assisted in achieving their goal of purchasing a new home, refinancing existing debt, or financing home improvement projects
“ACCESSbank was great to work with. They were knowledgeable, responsive and worked with our family every step of the way. Their team went above and beyond to make sure the process was as straightforward as possible. They were quick to answer questions anytime, even outside of normal business hours.”
– Will F.
ACCESSbank 2022 ANNUAL REPORT | 15
GIVING BACK. IT’S THE ACCESSWAY!
Last year our employees gave back to the community in a variety of ways, sharing our time, talent, and resources to make the Greater Omaha community stronger.
Our corporate commitment remains strong through donations and sponsorships. Over the last ten years, we have contributed more than $1.12 million in financial support to more than 350 local organizations. We are proud supporters and advocates for the United Way, recently recognized as a United Way Partner of the Year and a Top 100 campaign. With 22 Bridgebuilders and 100% employee participation for 11 of the last 14 years, our employees understand the value of contributing resources to our community. Through our employee-driven team, the Community Crusaders, we coordinated bank-wide opportunities, including Red Cross Blood Drives and volunteering for local organizations such as: The Food Bank for the Heartland, Omaha Street School, Project Harmony, Project Pink’d, Angels Among Us, Project Linus, and more. We worked diligently to identify opportunities for employees to get involved and spotlight local organizations in need at our company meetings and in our company newsletter.
Our bank officers are encouraged to give back their time and talents in the communities we serve through board service, resulting in 45% serving on a local board or committee.
16 | ACCESSbank 2022 ANNUAL REPORT
$1.12 MILLION contributed over the last ten years to over 350 local organizations.
100% employee participation in the bank’s annual United Way campaign for 11 out of the last 14 years.
ACCESSbank 2022 ANNUAL REPORT | 17
OUR CULTURE As our most valuable resource, our employees are the key to our strong organizational culture. From investing in the personal and professional growth of our employees, to Creating Positive Experiences through our Ambassador Program, our employees are engaged and committed to the success of ACCESSbank. Our Ambassador Program provided employees with opportunities to participate in one of four employee-led teams: our Culture Crew , Wellness Warriors , Community Crusaders , or Event Experts . With approximately 33% of the organization participating as an Ambassador, it is a unique way for our employees to positively impact our company.
For personal and professional development, we facilitated ACCESSprofessional workshops focused on developing professional skills, such as LinkedIn Presence, Professional Writing, Business Etiquette, and Professional Presence.
In 2022, we brought in national keynote speakers on Change Leadership and Inclusive Leadership to open dialogue with all employees in the organization. We continue to align employees and invest significantly in external opportunities through the Omaha Chamber, Banking Schools, Nebraska Banker’s Association, Business Ethics Alliance, and professional associations. Our culture remains strong as we make our employees a top priority. We closely measure and monitor our employee engagement and satisfaction through our bank-wide pulse surveys with a 93% completion rate and annual engagement score of 4.21/5.00. Our internal recognition program, ACCESSrewards, is highly utilized, highlighting those living the ACCESSway each and every day.
FOUR EMPLOYEE-LED TEAMS CULTURE CREW | WELLNESS WARRIORS COMMUNITY CRUSADERS | EVENT EXPERTS
18 | ACCESSbank 2022 ANNUAL REPORT
ACCESSbank 2022 ANNUAL REPORT | 19
EXECUTIVE LEADERSHIP TEAM The executives at ACCESSbank lead with integrity, passion, and honesty. In today’s business world, that’s a breath of fresh air.
BOARD OF DIRECTORS Our elected Board members represent our shareholders and help ensure ACCESSbank’s financial strength into the future.
Patrick J. Corrigan — Chairman of the Board
Tom Corrigan — ACCESSbank
Patrick J. Corrigan CEO
Rex Fisher — HDR, Inc.
Tom Corrigan President
Brian Gill — Nebraska Spine + Pain Center
Joseph Lempka — Kiewit Corporation
F. Jason Fowler Chief Financial Officer Nannette Sudman Chief Operations Officer Mack La Rock Chief Banking Officer
Justin Lovegrove — The ARC Group
Angela Quinn — Baxter Auto (former partner)
Chad Rutar — Renaissance Financial
Elizabeth Whited — Union Pacific
20 | ACCESSbank 2022 ANNUAL REPORT
ACCESSbank 2022 ANNUAL REPORT | 21
Midtown 8712 W. Dodge Rd. Omaha, NE 68114 Aksarben 6405 Center St. Omaha, NE 68106 Center Mall 1941 S. 42nd St. Omaha, NE 68105 Oakview 2710 S. 140th St. Omaha, NE 68144
Village Pointe 203 N. 180th St. Omaha, NE 68118 La Vista 7223 S. 84th St. La Vista, NE 68128 Shadow Lake 774 Olson Dr. Papillion, NE 68046
Equal Housing Lender | Member FDIC
ACCESSbank.com
Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24Powered by FlippingBook